Intrinsyc Software International Inc ISYRF

RE:Vote

[Possibleidiot01]

When I invest, I tend to give management the benefit of the doubt. Maybe I am stupid but they have more knowledge than I have . So for my first ever post , I am going to join the chorus and question what is going on .
Intrinsyc is a growth company - to sell at at less than a years revenues is bizarre.( 5 year average is 1.39)..... Morningstar and TMX  had the book vlaue at $1.98, so less than book value. The company bought back shares in this range and considered that a good investment so what has changed? Presumably they saw upside from here.
According to Morningstar , the only significant holder of shares among mutual funds was the Hillsdale goup of funds but they exited after selling $1.4 million (USD maybe?)
I was thinking of , probably still am , buying more shares when I talked to George Reznik a few weeks back , he mentioned the cash balance after the buyback was about $3 million - my notes say $7 million spent on the buyback but that would be rising with the next quarter. I also got the impression that business would be good for the next few quarters..We also talked about vulnerability of the company .
I think everyody , investors and management is tired, as the market has never rewarded the company for their achievements and maybe the idea is to set up this bid as a stalking horse that draws other higher bids.Plenty of companies and private equity should be interested.
 In general, I have a problem with a mixed cash and share offer because it leaves you with a small position in a company that you may not want.

I will add 18,000 plus to the No side.